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| 8-K - UNIVERSAL TRAVEL GROUP | v210558_8-k.htm |
Exhibit
99.1
Universal
Travel Group Inc. Expansion Strategy: International Travel License
Franchise
Press Release Source:
Universal Travel Group On Tuesday February 8, 2011, 7:00 am EST
SHENZHEN,
China, Feb. 8, 2011 /PRNewswire-Asia-FirstCall/
-- Universal Travel
Group Inc. ("Universal Travel Group" or the "Company") (NYSE:UTA - News), a leading
travel services provider in China, offering packaged tours, air ticketing, and
hotel reservation services online and via customer service representatives,
announces a new business expansion strategy to franchise the International
Travel License it recently obtained from the National Travel Authority, and
under which it can offer and operate international package tours worldwide, to
local travel agencies throughout China.
"We have
granted our franchise to three local travel agencies in Shenyang, Dalian and
Qingdao. They have converted their business model, adopted our franchise
operating scheme, and updated their local business registration to run this
franchise officially," said Ms. Jiangping JIANG, Chairwoman and Chief Executive
Officer of Universal Travel Group. This franchise strategy will allow us to
expand our national footprint faster to capture the opportunities resulting from
our newly received International Travel License and increase our brand
recognition. As Chinese citizens are increasingly visiting foreign countries, we
will be able to offer high quality tours that will be tailored to the needs of
our existing customers and those of our franchisees.
Franchisees
are stringently evaluated and selected base on their financial strength, scale,
customer base, and experience in operating package tours. Franchisees will
benefit from the Company's nationwide advertising campaigns, its well
established brand name, and complete operational support, including training and
an efficient booking system. Each booking by any of the franchisees will
generate a fee payable to the Company.
This
franchise business model will allow the Company to accelerate both revenue and
market share growth and further promote its brand nationwide. It has already
generated significant interest from local travel agencies and over forty local
travel agencies have already expressed a strong interest in joining the
franchise. The Company intends to be highly selective and only agencies that
operate at the highest standards will be authorized to represent and operate
under its brand.
About
Universal Travel Group
Universal
Travel Group Inc. (NYSE:UTA - News) is a leading
China-based travel services provider, focusing on the domestic tourism market
for leisure and corporate travel and offering packaged tours, air ticketing, and
hotel reservation services. The Company targets geographic expansion in
underpenetrated travel markets in central and western China; and it has
established a second operation base in Chongqing. With the Chinese disposal
income continuing to rise driving demand for domestic leisure services, the
Company continues to benefit and dominate packaged tour businesses. The Company
operates multi-channels sales with 24 hour call centers, online website, owned
and franchised sales offices and various wholesale channels.
For more
information, please visit Universal Travel Group's website at us.cnutg.com
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For
investor and media inquiries, please contact:
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Mr.
Jing XIE, Secretary of Board & Interim Chief Financial
Officer
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Universal
Travel Group Inc.
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Tel:
86-755-86319549,
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Fax:
86-755-86319348,
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06@cnutg.com
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Website:
us.cnutg.com
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Christensen
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Kimberly
Minarovich
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Tel:
+1 917 533 3268
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Kminarovich@ChristensenIR.com
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Jenny
Wu
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Tel:
+852 9503 0673
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Jwu@ChristensenIR.com
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